Proponents of health savings accounts and their mandatory high-deductible health insurance plans have come out swinging against a study concluding that the plans cost women about $1,000 more per year than men.
Most financial advisers wouldn’t expect to find health insurance in the same store where they buy lumber and fertilizer, but it turns out that the folks in orange aprons really can help with just about anything.
TIAA-CREF wants to be a contender in the Section 529 college savings plan business — again.
NEW YORK — The nation’s smallest Section 529 college savings plan — Tennessee’s BEST Savings Plan in Nashville, which has less than $40 million in assets and is managed by New York-based TIAA-CREF — soon may become the second state to transfer its 529 plan assets to a neighboring state.
OTTAWA — The Ontario Securities Commission is playing catch-up after a slew of embarrassing court decisions that have led to a spate of negative editorials and op-ed articles.
NEW YORK — Conventional wisdom holds that it isn’t profitable to work with the low- to moderate-income market, but financial advisers across the country are developing business models that fly in the face of that supposed truism.
SAN FRANCISCO — In a world of broker-dealers that are out to poach financial advisers with large books of business, Scott Householder takes a different tack that feels like tough love to his representatives.
A year after taking over retail at Morgan Stanley — amid much skepticism — James Gorman has made believers out of most of the firm’s troops.
Peter Scaturro’s impending departure as chief executive of U.S. Trust has left Bank of America Corp., the venerable wealth manager’s prospective new owner, with a big mess on its hands.
Brokers who left United Securities Alliance Inc. before its March 1 acquisition by Royal Alliance Associates Inc. received a letter from United’s lawyers last month that contained a surprise: They owe United $5,000.
Fee income from variable and fixed annuities, and mutual funds, sold by banks declined by 0.6% last year to $19.33 billion, from $19.46 billion in 2005, according to a recent study.
Charles R. Schwab last week called the fundamental indexes underlying his company’s three newest mutual funds “a better mousetrap,” but The Vanguard Group Inc. and Barclays Global Investors smell a rat.
NEW YORK — Raymond James & Associates Inc. recruited 36 registered representatives during the first quarter, compared with the 43 reps hired during the year-earlier period.
NEW YORK — Financial advisers can safely increase their clients’ retirement income by 50% or more by structuring withdrawals differently, according to a certified public accountant who specializes in retirement income planning.
OTTAWA — The gambit by the Canadian Securities Administrators to get Ontario involved in a new, improved passport system of regulation led to a stalemate when the Ontario Securities Commission said: Nothing doing.
SAN FRANCISCO — In selling one of its subsidiaries to a California bank, Lydian Trust Co. is preparing to bolster its presence on its home turf.
NEW YORK — As long as the stock market keeps rising, and baby boomers keep getting older, variable annuity sales should continue to be robust, industry observers say.
The stock market has remained unsettled since the big plunge of Feb. 27, but many financial advisers report few worries, attributing their well-being to the risk management inoculation they have given their client portfolios.
Industry participants were unhappy to learn that repeal will be an option as the Securities and Exchange Commission takes a hard look at the 12(b)-1 rule, which allows mutual funds to generate billions of dollars in fees.
The U.S. Court of Appeals for the District of Columbia Circuit on Friday overturned the Securities and Exchange Commission’s broker-dealer exemption rule in a 2-1 decision.
